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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: CommanderCricket who wrote (41071)	3/30/2005 2:10:56 PM
From: kodiak_bull	Read Replies (1) of 206325

I'm not quite sure how you play that setup. Rather than capitulation I'd call it a bounce play. Good if you are nimble, potentially bad if you are not (since the trend is down). The safer way to play a stock in this mode is to short the rallies, not buy the dips. If you look at a 5 minute chart on PGH, you'll see there was about a 10-15 minute window to make the play, after that (roughly 11:30) it's only gone from about 18.80 to 19.10, and it's pretty much flatlined for the last 1.5 hours. Where will it go tomorrow? Not a pretty candle, not a pretty sector. I think you are still in a short/buy puts on rallies mode, rather than a long/buy calls on dips. As anyone who bought the last dip 2 days ago, when it closed at 20.03 (3/28), has learned, countertrend trading in stocks and options can be deadly. Kb

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